The opinions expressed below are those of their respective authors and do not necessarily represent those of this office.

Janna Nikkola
commented on
7/22/2013

The bailout of Fannie and Freddie were a direct result of congress passing "The Financial Services Modernization Act of 1999" AKA Gramm-Leach-Bliley (written and sponsored by GOP members of congress) which deregulated the banking and financial services industries.
The legislation first devastated the US housing market, then the US economy and then the global economy.
Before you consider eliminating Fannie and Freddie, you must first reinstate Glass-Steagall (legislation that secured the US banking system for 66 years) and repeal Gramm-Leach-Bliley.
Our own history has proven time and again that the banking and financial services industries must be regulated. Banks, securities firms and Wall St in general are basically corrupt and must be regulated to protect the average American consumer.